LIU QIANGDONGFounder of Chinese e-commerce giant JD Liu Qiangdong, also known as Richard Liu, has resigned as the legal representative, executive director and general manager of Beijing Jingdong Century Trading Co. Ltd., the chief operating entity of JD.
JD downplayed the change and described it as a "fairly normal management move." Beginning this year, 47-year-old Liu has stepped down from the top management positions of 46 other JD subsidiaries, including JD Digits, JD Logistics and JD Cloud.
But experts said the move does not mean that Liu will depart from the company as he still has absolute control over JD. Liu holds about 16 percent of JD stock and is the second largest shareholder, controlling nearly 80 percent of the company's voting rights.
Xu Lei, Chief Executive Officer of JD Retail, who is responsible for the development, operation and strategy of the company's retail business, took over as the executive director, manager and legal representative.
